Date: 29.12.2017.

The Bank of Lithuania and Statistics Lithuania announce the III quarter 2017 data on exports and imports of services broken down by country and type of service. In III quarter 2017, exports of services amounted to EUR 2.2 billion, imports – EUR 1.3 billion, the surplus of the balance of services – EUR 899.2 million, or 8% of GDP. In III quarter 2017, against III quarter 2016, the surplus of the balance of services increased by EUR 285.9 million, or 46.6%, which was a result of exports of services growing faster than imports (22.5 and 10.2% respectively).

Data of the Central Statistical Bureau (CSB) show that, compared to October, in November 2017 the level of construction costs in Latvia increased by 0.4%. Labour remuneration of workers (1) grew by 0.6%, prices of building materials by 0.4%, and maintenance and operational costs of machinery and equipment by 0.1%.

The Estonian Owners Association said on Friday that it welcomes the decision of the government to give churches 8.2 million euros as a result of a which a property dispute will end, and that also the House of the Blackheads in Tallinn should be returned to the brotherhood of the same name to finish the property reform, reports LETA/BNS.

Unlawful labor makes a rather significant share of shadow economy in Lithuania, and the indicator is fueled by unlawful employment of foreigners in the country. Tricky hiring conditions are currently one of the business obstacles, which is believed to go away after simplification of the process, Lietuvos Zinios daily said on Friday, cites LETA/BNS.

EU economy’s future: slow but positive growthGrowth in all EU states will continue in 2019-20, though at a slower pace than before. The largest EU’s economies will grow at around 1,5-1,7%, mostly in Poland, Spain and Holland. The Baltic States’ growth will continue to be on the positive trend.